Does APR affect me if I pay off all purchases made on the credit card in full each month?

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Does APR affect me if I pay off all purchases made on the credit card in full each month?

2006-06-09 08:48:14 · 3 answers · asked by Joe 5 in Business & Finance ➔ Credit

3 answers

There are different types of APR (1) Balance transfer APR (2)fixed/variable APR on puchases, (3) cash advance APR.
Regarding your question, if you use your credit card to withdraw cash, there is no grace period and the APR will drectly affect you until you pay off the entire cash. Regarding balance-tranfer APR, the scheme differs with provider. With the conventional APR on puchases, if you pay in full, you need not worry about the APR.

2006-06-09 10:01:06 · answer #1 · answered by Sudhir 2 · 5⤊ 0⤋

As long as the balance on your card is zero at the end of each pay period, you will not be charged a finance charge.

2006-06-09 08:53:36 · answer #2 · answered by Mark B 2 · 0⤊ 0⤋

2006-06-09 08:52:26 · answer #3 · answered by danzahn 5 · 0⤊ 0⤋